Get a grip !

Skint_yet_Again

I have well and truly shot myself in the foot as all decent properties have gone up 10k over my budget since I agreed my sale price. 

However I have decided to contact my mortgage lender about porting all or part of my mortgage to a new property then throwing everything at it to overpay. Current mortgage £20311. 

Not really the position I wanted to be in but I really feel I can’t go back on the sale now. All the stress is making me feel ill and now I’ve decided to see about porting the mortgage I feel relieved 

MovingForwards

It will open up a lot more properties. You'll still have an end date for the mortgage and for changing roles. 

I'd suggest keeping the longest overall term possible, perhaps a 5 year fix. It keeps costs down, while allowing overpayments and you can aim to clear it within the fixed term, knowing you've a longer term if needed.

While you're probably looking forward to having space to yourself, consider a M - F lodger or perhaps a student who goes back home for the holidays, maybe even be a host for exchange students or something. It will help increase the money in your pocket and there's quite a large tax free element.

Skint_yet_Again

I have not taken my medication today and I feel much clearer headed. I managed to phone the solicitor this morning and have sorted documents for the id checks as I don’t have a current passport or photo driving licence. 

My current mortgage provider has agreed in principle to me porting up to £20k and I have set up some viewings. My stomach is churning but I know I need to get a grip. Solicitor forms are all completed & I’m just waiting for a bank statement I ordered to send with them. 

Just walked the dog round the nature reserve and the swan was off her nest in the water with 6 babies 😊

MovingForwards

It's all sounding very promising.
Awwwww, the reserve comes across as a peaceful place, spend more time there and savour the babies.

Skint_yet_Again

My friend came with me yesterday to view a property. It needed lots of cosmetic work and had a tenant! They have not managed to find anywhere to go yet so I won’t be bidding. 

The roofer messaged while I was out and he is due to come today so I withdrew £60 to pay him. Hopefully he won’t get rained off. 

I am thinking I should try to return to work on Monday

MovingForwards

You've got a benchmark for viewings and they'll get better from here on.

Do you feel ready to return or is there any way of using 1 day holiday for a few weeks to ease back in.

Skint_yet_Again

Roofer came today and sorted the two loose ridge tiles £60. 

I am looking at 2 more properties and have a dilemma 
property 1 - dream house, ok location £260k would mean a £10k mortgage and a chain. No work needed. 

property 2 - ok house, ok location £250k, chain free, would mean mortgage free and no chain. Needs cosmetic work. 

To be honest I don’t think I am really ready to return, I just feel like I should 

Chrystal

Don't go back to work too soon.  Take the time to recover properly, otherwise you'll need to be off again in a very short time.  Better to take the time now. XXX

Skint_yet_Again

Thanks @Chrystal you are probably right. I don’t know why I feel guilty about being off. I had to stop taking the meds as I did not feel like myself and couldn’t function. I will contact the doctor again. 

It’s lovely and sunny today which has lifted my mood. Have walked the dog and bumped into my 2dog friend. She invited me round at the weekend so that will be good to get away from the house. I have a blood test this morning & will pick up some food as the surgery is opposite aldee. I will need to get things that are quick to cook as I can’t concentrate on cooking/ batch cooking/ meal planning at the moment. I was so glad to have some frozen batch cooked meals over last 2 weeks to keep me going. 

MovingForwards

Try different ones are there are some which don't have you as a zombie.

I'd go with the dream house, £25k mortgage to open up available lender pool, term to age 65 and throw every penny at it to clear in less than 5 years; quicker by using pension lump sums and retiring 😉

Unless, over time you can turn the mortgage free house into a dream home, then I'd go for that one. The sense of freedom will be one less stress.

The downside to having a mortgage is the requirement to have returned to work and have a wage slip showing you're back. Lenders are being a bit funny about people being off ill when applying for mortgages.